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Black Thursday

Rostrum The ancient narrow pathway had become so bad that they could not find their way to their destination as the three moved in a grey Honda Sport Utility Vehicle (SUV) being piloted by Dayo who was very mindful of the steering. It was on a Thursday. The 35-year-old Misters Dayo, Emeka and Okon were old time friends who reunited just a few days ago at Nsukka in Enugu State having lost contacts about eight years back, or thereabouts, after their graduation from one of the reputable higher citadels of learning in Nigeria situated in the Eastern part of the country, precisely University of Nigeria Nsukka popularly known by its acronym ‘U.N.N’. What occasioned the long-awaited reunion was the convention of their alma-mater’s alumni body themed ‘The homecoming of UNN Alumni’, which usually held once in a blue moon. Though they never studied in the same department, they were conspicuously best of friends during their school days that people within bega...

Renaissance Energy Acquires Shell Petroleum Company

The Renaissance Africa Energy Company Limited, a leading consortium of Nigerian oil firms, has eventually acquired the Shell Petroleum Development Company, of Nigeria Limited (SPDC).

This latest development was disclosed to the public after the former completed the processes involving the acquisition of the latter in a $2.4 billion deal.

According to the Management of the newly acquired oil entity, the SPDC had been renamed to Renaissance Africa Energy Company Limited after 46 years of operation in Nigeria.

The company’s spokesperson, Tony Okonedo, said: ”Going forward, SPDC will be renamed as Renaissance Africa Energy Company Limited.”

Reacting to the complete acquisition of Shell, the Managing Director/CEO of Renaissance lauded the Nigerian government for giving the approval for Shell’s acquisition.

“We are extremely proud to have completed this strategic acquisition.

“The Renaissance’s vision is to be “Africa’s leading oil and gas company, enabling energy security and industrialisation in a sustainable manner.

“We and our shareholder companies are therefore pleased that the federal government has given the green light for this milestone acquisition in line with the provisions of the Petroleum Industry Act,” he said.